Question
The U.S. Treasury announces an auction for 5-year T-notes in the amount of $12.01bln. Non-competitive bids received total $1.25bln. The following are the top competitive
The U.S. Treasury announces an auction for 5-year T-notes in the amount of $12.01bln. Non-competitive bids received total $1.25bln. The following are the top competitive bids received: Bidder 1: $3.09bln. at 1.25% Bidder 2: $2.15bln. at 1.26% Bidder 3: $1.84bln. at 1.27% Bidder 4: $2.51bln. at 1.275% Bidder 5: $1.49bln. at 1.28% Bidder 6: $1.91bln. at 1.28% Bidder 7: $0.76bln at 1.285% What will be the allocation to Bidder 5? (Record your answer in $bln, to the nearest $0.001bln, drop the $ symbol. E.g., if your answer is $375.5mln, record it as 0.376.)
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